DXP Enterprises acquires Triangle Pump & Equipment
DXP Enterprises Inc. has completed the acquisition of Triangle Pump & Equipment, Inc. (Triangle). Founded in 1975, Triangle is headquartered in Ridgefield, Washington.
Triangle is a leading manufacturer’s representative and distributor of pumps and process equipment focused on serving the water and wastewater industry including industrial applications and aftermarket service and repair. DXP funded the acquisition with cash from the balance sheet.
“We are pleased to welcome the Triangle Pump & Equipment employees to the DXP team, said Chairman and CEO David R. Little. "Triangle will provide DXP’s Water division with new and expanded geographic territory and capabilities. Triangle is a great company with key differentiators and provides us with high caliber people.”
Signing of the definitive agreement occurred on November 1. Sales and adjusted EBITDA for the last 12 months ending June 30 were approximately $15.1 million and $2.4 million, respectively. Adjusted EBITDA was calculated as income before tax, plus interest, depreciation and amortization, plus non-recurring items that will not continue after the acquisition.
CFO Kent Yee added, “We are excited to welcome the talented and hardworking employees of Triangle to the DXP team. The addition of Triangle furthers us in our mission to build DXP Water into a full-line products and service focused platform servicing the municipal and industrial water and wastewater treatment markets. We look forward to finishing 2025 on this same path and heading into 2026 with more acquisitions as we scale DXP. This transaction will be positive for Triangle and DXP’s customers, employees, and shareholders."
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